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Inflation rate at +8.7% in January 2023
The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +8.7% in January 2023. The revision introducing the new base year 2020 resulted in inflation rates of +8.1% for December 2020 and +8.8% for November 2020. The price increase thus accelerated at the beginning of the year. “Following a slowdown at the end of last year, the inflation rate thus remains at a high level”, says Ruth Brand, President of the Federal Statistical Office. She adds: “We are observing price rises for many goods and, to an increasing degree, also for services. Households paid higher ... (full story)